Tuesday, Omnicare Inc. (OCR), a provider of pharmaceutical services for the elderly, announced that its chief financial officer and senior vice president, David Froesel, notified the company of his intention to retire by the end of 2009.
Omnicare said it has retained an executive search firm to find Froesel's replacement. Until then, Froesel will continue in his current role.
Joel Gemunder, the president and chief executive officer of Omnicare stated, "As our CFO for the last 13 years, Dave was part of the team that helped us grow from a company with revenues of $640 million to more than $6 billion today."
Prior to serving as the SVP and CFO of Omnicare since March 1996, Froesel served in other executive roles at Mallinckrodt Veterinary, Inc., and Mallinckrodt Medical, Inc., both subsidiaries of Mallinckrodt, Inc.
OCR is currently trading up 74 cents or 2.95% at $25.84.
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